Northern Nexus may establish renaissance zones within the Northern Nexus Development District that foster economic opportunities; facilitate economic development; stimulate industrial, commercial and residential improvements; prevent physical and infrastructure deterioration of defined areas; and provide for the reuse of unproductive or abandoned industrial properties.
Renaissance zone areas recommended by the Northern Nexus Board to the Michigan Strategic Fund pursuant to MCL 125.2688h(1) and are referred to as Next Michigan Marketing Zones. These Next Michigan Marketing Zones do not have to be contiguous so long as the parcels are only separated by property used for transportation services or a means of multimodal commerce.
An Eligible Next Michigan Business recommended by the Northern Nexus Board to the Michigan Strategic Fund for certification as a Qualified Eligible Next Michigan Business eligible to receive the benefits of a zone pursuant to MCL 125.2688h(2) shall enter into a Development Agreement as provided in MCL 125.2688h(8). The Qualified Eligible Next Michigan Business’ Next Michigan Renaissance Zone must be one contiguous geographic area within its particular designated Next Michigan Marketing Zone. In addition, the Northern Nexus Board may enter into a Local Agreement to ensure local objectives of Northern Nexus are met.